Asia-Pacific commercial property market returns to growth | 13 December 2013
Figures gathered by Knight Frank suggest that property values jumped by 0.5 per cent in the three months to September, offsetting the 0.1 per cent fall in the previous quarter.
The region’s outstanding performer was undoubtedly Jakarata, where office values increased by an incredible 28 per cent.
However, rents increased in only eight of the 19 key prime office markets in the third quarter of 2013. China, Tokyo and Kuala Lumpur were among the markets where rent remained flat.
Attempting to explain this trend, Knight Frank head of research for Asia-Pacific Nicholas Holt told propertywire.com: “The expectation of tighter monetary conditions are all weighing on growth prospects in the region, which in turn are influencing business office expansions in certain markets.”
Nevertheless, office markets in New Dehli, Bangalore, Bangkok and Singapore all recorded impressive rental growth, whilst the Asia-Pacific market was tipped to continue growing in 2014.
Jakarta and Tokyo were listed amongst 2014′s potential hotspots for commercial property investment in a separate study by Jones Lang Lasalle. According to propertyinvestortoday.com, the JLL report tipped global office rents to grow by 3.5 per cent in 2014.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
We are pleased to confirm that Qube Global Software will once again be sponsoring and exhibiting at MIPIM in Cannes, South of France.
Staff from Qube Global Software will attend MIPIM Asia, the two day global leader summit, at the beginning of December 2015. Topics this year include Asia Pacific inbound and outbound investment flows, regional development opportunities and projects, and real estate trends.
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